Comments on: Is Microcredit the Answer or an Answer for Latin America? http://www.coha.org/is-microcredit-the-answer-or-an-answer-for-latin-america/ COHA is an NGO specialized in monitoring Latin American and Canadian Relations for more than 30 years... Thu, 09 Feb 2012 12:22:06 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Pat Van Es http://www.coha.org/is-microcredit-the-answer-or-an-answer-for-latin-america/comment-page-1/#comment-6533 Pat Van Es Tue, 12 Feb 2008 15:01:27 +0000 http://www.coha.org/2007/09/24/is-microcredit-the-answer-or-an-answer-for-latin-america/#comment-6533 My husband & I work with Opportunity International here in Canada. It is one of the largest & fastest growing microfinance organizations in the world, committed to solving global poverty. This organization has been in existence for approximately 35 years and yet there is no mention of it in your article. We currently work in 28 developing countries in Africa, Asia, Eastern Europe and Latin America providing small business loans, savings programs and insurance products. We also provide clients with ongoing training in leadership, business practices and personal development. We currently serve just over 1 million clients worldwide. I travelled to Lima, Peru recently with this organization and saw first hand the incredible work that it's doing in the barrios on the outskirts of Peru. The clients that we met are all successful entrepreneurs with small businesses in their communities and able to provide for their families, many of them for the first time.They also have all been able to save a percentage of their earnings every month. You could see the pride on their faces when they spoke about their businesses and all they have achieved. Their lives and the lives of their families have been transformed. More people would be helped if the Peruvian government would work with organization like Opportunity International. My husband & I work with Opportunity International here in Canada. It is one of the largest & fastest growing microfinance organizations in the world, committed to solving global poverty. This organization has been in existence for approximately 35 years and yet there is no mention of it in your article.

We currently work in 28 developing countries in Africa, Asia, Eastern Europe and Latin America providing small business loans, savings programs and insurance products. We also provide clients with ongoing training in leadership, business practices and personal development. We currently serve just over 1 million clients worldwide.

I travelled to Lima, Peru recently with this organization and saw first hand the incredible work that it’s doing in the barrios on the outskirts of Peru. The clients that we met are all successful entrepreneurs with small businesses in their communities and able to provide for their families, many of them for the first time.They also have all been able to save a percentage of their earnings every month. You could see the pride on their faces when they spoke about their businesses and all they have achieved. Their lives and the lives of their families have been transformed.

More people would be helped if the Peruvian government would work with organization like Opportunity International.

]]> By: Nathan http://www.coha.org/is-microcredit-the-answer-or-an-answer-for-latin-america/comment-page-1/#comment-1929 Nathan Fri, 07 Dec 2007 07:54:11 +0000 http://www.coha.org/2007/09/24/is-microcredit-the-answer-or-an-answer-for-latin-america/#comment-1929 Dear Mr. Glenwick, First i would like to appreciate you for writing this article. You have covered the historical background and present possibilities of Microcredit very well. One area which was not covered is the 8th goal of MDGs and role of Microcredit. During the last few years, the world bank is projecting Microcredit as a useful channel for achieving goal 8. In their arguements, microcredit is promoted not only as a medium to eradicate poverty, but also projected as a booming sector which can attract good amount of direct foreign investments. This is a very critical point and the moment microcredit moves that direction, it is like to be opening a pandora box. This will help to increase the importance of Microcredit institutions in banking aspects, but the basic (social) purpose of this initiative will be challenged. From Indian experience, one can see, key players involved in the sector were commercial banks, especially the new generation banks. Many venture capitalist firms are showing their willingness to invest heavily in this area, just because of the high rate of returns. Dear Mr. Glenwick,
First i would like to appreciate you for writing this article. You have covered the historical background and present possibilities of Microcredit very well. One area which was not covered is the 8th goal of MDGs and role of Microcredit. During the last few years, the world bank is projecting Microcredit as a useful channel for achieving goal 8. In their arguements, microcredit is promoted not only as a medium to eradicate poverty, but also projected as a booming sector which can attract good amount of direct foreign investments. This is a very critical point and the moment microcredit moves that direction, it is like to be opening a pandora box. This will help to increase the importance of Microcredit institutions in banking aspects, but the basic (social) purpose of this initiative will be challenged.

From Indian experience, one can see, key players involved in the sector were commercial banks, especially the new generation banks. Many venture capitalist firms are showing their willingness to invest heavily in this area, just because of the high rate of returns.

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